Implants, catalysts, and wedding rings: objects that could not be more different. However, they share some commonalities: the use of precious metals. Gold and platinum are among the most technically significant precious metals on our planet. They perform important functions in industrial processes, electronics, and the jewelry industry. Despite their similar chemical stability, they differ significantly in extraction volume, price behavior, and machinability. Paul Horn GmbH offers a wide range of precision tools for the economical machining of precious metals with its tool portfolio.
Mining companies worldwide extract around 3,660 tons of gold annually. Countries like China, Australia, Russia, Canada, and the USA drive this extraction forward, ensuring global availability. The worldwide reserves of around 54,000 tons provide additional supply security and stabilize the market in the long term. Platinum operates at a lower extraction level: mines worldwide produce around 180 tons per year. South Africa supplies more than two-thirds of this amount, significantly influencing the global supply. Russia and Zimbabwe complement global production.
Rising Prices
Gold continuously rises in price per fine ounce and reacts strongly to economic developments. Investors buy gold, especially during phases of economic uncertainty, which often drives the price up. Platinum usually remains priced below gold, even though it is significantly rarer. Since the industry drives the majority of platinum demand, the platinum price shows stronger fluctuations and closely follows the production cycles of the automotive and chemical industries.
In technical applications, gold provides important advantages. The electronics industry uses the precious metal because it offers reliable electrical conductivity and does not oxidize even under demanding environmental conditions. Manufacturers use gold in contact surfaces, conductor structures, and microelectronics to ensure high signal stability and long lifespan. The medical technology sector uses gold for its biocompatibility in dental alloys, implants, and diagnostic systems. Furthermore, the jewelry industry continues to regard gold as the most important precious metal due to its warm color and stability.
Industrial Applications
Platinum primarily fulfills industrial tasks. The automotive industry uses platinum in catalytic converters to chemically convert pollutants and reduce emissions. Chemical plants utilize platinum as a catalyst in processes for producing silicones, pharmaceutical active ingredients, fertilizers, and various polymers. Due to its high melting point and high corrosion resistance, the industry also uses platinum in thermocouples, laboratory equipment, and high-temperature components. In the jewelry sector, platinum achieves lower sales volumes than gold, but customers appreciate its hardness, color, and abrasion resistance.
The machining properties of the two metals differ significantly. Gold is easy to machine, resulting in small cutting forces. This causes minimal tool wear and allows for the production of very high surface qualities with mirror gloss. Goldsmiths, precision mechanics, and electronics manufacturers benefit from this ductility, which enables tight tolerances and complex geometries. Platinum imposes significantly higher demands on machining. Its high strength and toughness increase cutting forces and put more strain on the tools. The machining generates high temperatures in the shear zone. For delicate geometries, users require special tool geometries and optimized cutting parameters. These factors increase the effort and production costs for platinum components.
From Practice
A user from the jewelry industry consistently relies on a uniform tool concept from Horn in wedding ring production, consisting of PKD and MKD-tipped cutting edges. PKD tools are primarily used for roughing and enable precise pre-machining of outer and inner contours, while MKD cutting edges are responsible for high-gloss finishing and produce mirror-smooth surfaces. Particularly, the System 11P combines outer and inner machining in one tool, thus increasing efficiency and accuracy. The quality of the cutting edge is crucial for the final result and is crafted with the highest precision in elaborate handwork.
Overall, gold and platinum fulfill clearly defined technical tasks. Gold supports high-quality electronics and precise applications through its high formability and conductivity. In contrast, platinum enables demanding industrial processes that generate high thermal and chemical stresses. Both metals remain indispensable components of modern technologies due to their unique properties. Horn offers an optimal tool portfolio for the machining of these noble materials.
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